A new bill in the Louisiana legislature could potentially take $36 million off the state’s horse racing industry. The monies will be rather directed towards a scholarship programme in the state.
This bill will cut the monies from casinos and destined for the state’s funding to purses and breeders by roughly 50%. The bill is being scheduled for a hearing in the coming week to be heard by the House Appropriations Committee.
The bill will not divert casino revenue destined for the casino owners, but the total monies received from slot machines on the track will probably decrease from 18%-9%. Monies earned from video poker will decrease from 20%-10%.